Forbes Medi-Tech Sells Sterol Manufacturing Interest
Forbes Medi-Tech Inc., Vancouver, Canada, has agreed to sell its interest in Phyto-Source LP for $25 million to Chusei Oil Co., Ltd., Okayama, Japan. Phyto­Source and Forbes Medi-Tech signed a supply agreement that will assure Forbes Medi-Tech of a supply of Reducol and other wood sterols for a period of five years. Forbes has agreed to buy all of its sterol requirements exclusively from Phyto-Source for the first year.